Problem $5-3$A Journal entries for merchandising activities$-$perpetual LO$3$ The Jewel Box purchases Jewellery from around the world and sells to local retailers in Canada. Consider the following perpetual system merchandising transactions of the Jewel Box Use a separate account for each receivable and payable, for example, record the purchase on Augustin Accounts Payable$-$Luu Company Aug. $1$ Purchased necklaces from Luu Company for $$4,200$ under credit terns of $2/10,1/30,$ Foe destination. $4$ At Luu Company's request, paid $$370$ for freight charges on the August $1$ purchase, reducing the amount owed to Luu. $5$ Sold rings to Green Ruby for $$3,920$ under credit terns of $3/10,$ n$/60,$ FOB destination. The merchandise had cost $$2,570.8$ Purchased bracelets from Jane Co$.$ for $$5,400$ under credit terms of $2/10,$ n$/45,$ FOB shipping point. $9$ Paid $$345$ shipping charges related to the August $5$ sale to Green Ruby. $1$e Green Ruby returned the rings purchased from the August $5$ sale that had cost $$460$ and been sold for $$820.$ The merchandise was restored to inventory. $12$ After negotiations with Jane Co$.$ concerning problems with the merchandise purchased on August $8,$ received a credit meno from Jane granting a price reduction of $$500.15$ Received balance due from Green Ruby for the August $5$ sale. $17$ Purchased office equipment from Westco on credit, $$6,200,1/45.18$ Paid the anount due Jane Co$.$ for the August B purchase. $19$ sold earrings to Chic Jewellery for $$1,500$ under credit terns of $2/10,1/30,$ FOB shipping point. The merchandise had cost $$1,010.22$ Chic Jewellery requested a price reduction on the August $19$ sale because the merchandise did not neet specifications. Sent Chic Jewellery a credit meno for $$200$ to resolve the issue. $29$ Received Chic Jewellery's payment of the amount due from the August $19$ purchase. $30$ Paid Luu Company the amount due from the August $1$ purchase. Prepare General Journal entries to record the above transactions.